The Real Deal Trio

What does a $1 million dollar budget get you when you move to Florida? Central Florida Edition

April 01, 2022 Judson Osbon and Mohit Badlani
The Real Deal Trio
What does a $1 million dollar budget get you when you move to Florida? Central Florida Edition
Show Notes Chapter Markers

Lately there has been an increase in people moving to Florida with a budget of one million $ + and  we wanted to take the opportunity to address what kind of home this budget gets you when you move to Florida.  There are many luxury homes in Florida for $1 mil+ ranging into the 5 million plus and even homes 10, 15, and 20 million plus.  For this episode we are sticking to homes around one million up to around $1.5 million dollars. 

The first thing that's important to note is that we have seen an increase in cash buyers amongst million dollar plus home purchases.  It looks to be around 60% of homes that sold for $1 million plus sold in cash. 

As far as the homes themselves, a common theme is that the homes over $1 million tend to be a bit larger with most of them coming in over 3,000 square feet and many of them even over 4,000 or 5,000 square feet.  One exception we note to this is waterfront homes.  Lakefront homes are common in the Orlando area with many of those homes being built in the 1960s to 80s.  These homes tend to be a bit smaller, often only around 2,000 square feet but can still command a one million dollar plus price tag especially if they're renovated. 

Another commonality we see is larger lots, especially among the estate style homes.  Lot size does tend to decrease as you get closer to city centers, especially in HOA communities.  In Orange County FL, homes over one million dollars especially in the $1.4 and $1.5 million range will almost always have a pool often with a water view as well. 

Million dollar condo's aren't as common in the Orlando area but there are a select few in high rises in downtown Orlando.  Million dollar plus condos are much more common in the coastal areas of Florida and we will be covering those in future episodes. 
We also discussed several specific properties in this episode which are actively on market so be sure to listen in to get some details on those properties.  During that discussion, several terms came up which might be unique to Florida homes and/or million dollar plus homes such as pool bath, tandem garage, wet bar, etc. 

First, we discussed Mohit's new Winter Garden listing coming in at $1,400,000. 
Up next was this nearly 5,000 square feet 5 bedroom pool house on 1

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(Cont.) What does a $1 million dollar budget get you when you move to Florida? Central Florida Edition